Study Material Update
The amended requirements contained in the 2017 Determination of Fit and Proper Requirements will impact on the content of the study material for the REs. Persons who registered to write the regulatory examination […]
FSCA gears up for tougher enforcement as scams and misconduct rise
From funeral policy breaches to crypto non-compliance and weak AML measures, the regulator’s latest report outlines its key priorities – with online harm topping the list.
Audenberg Appeal against FAIS Ombud
The FSB Appeal Board recently published its decision at a hearing held on 27 February 2018. The appeal was dismissed, but not before the Board expressed some very concerning comments on the office of the […]
Many Property Syndication complaints not yet finalised
The old saying that the wheels of justice grind slowly is certainly true when it comes to property syndication complaints addressed to the FAIS Ombud. With the demise of Sharemax in 2010, disgruntled […]
Technology eases Compliance Burden
Schalk Malan, CEO of BrightRock, recently shared five of the major developments that are set to change the insurance industry as we know it. According to Schalk the rise of blockchain, personalised/precision medicine, […]
SA drivers love their cars
A national client survey by Santam revealed interesting and surprising attitudes of drivers towards their vehicles, including emotional attachment and feelings of despondency if dispossessed of their much-loved cars. 64% “very or extremely […]
Proposed Amendments to Policyholder Protection Rules
The FSB published proposed amendments to the Policyholder Protection Rules (“PPRs”) made under the Long-term Insurance Act, 1998 and the Short-term Insurance, 1998, respectively, for public comment. The proposed amendments form part of […]
New Debt Counselling Fees
The National Credit Regulator recently published a circular and guideline in respect of the new fees that debt counsellors may charge consumers during the debt review process. The new fees are effective from […]
Record Keeping Relief?
Some product providers have created facilities for advisers to upload documents on-line. This is then stored in a secure environment by the provider. John, a Moonstone Protector client recently raised an interesting compliance […]
Prudential Authority a reality on 1 April 2018
A media release by the South African Reserve Bank on 1 March 2018 confirmed that the Prudential Authority (PA), one of the two pillars of the new architecture for the regulation of the financial sector, […]
Operational Ability under the new F & P
Back in the good old days, you needed an ashtray, a phone and a filing cabinet to be regarded as operationally okay. Some even went to such extremes as having a fax machine […]
To tweet or not to tweet
The world of social media can be overwhelming for some. How do you keep up with the latest trends and social media platforms? Do you have to have a presence on all? What […]
To fee, or not to fee?
The right to charge additional fees, and particularly “admin” fees, has long been a bone of contention, particularly in the short-term industry where it is particularly prevalent. The latest draft General Code of […]
Are you running unnecessary risk?
Far too many FSP licences are suspended purely as a result of someone being, quite frankly, slapgat. Updating your contact details is not a favour you do the FSB – it is a […]
Class of Business Training Now Available
Registration for Class of Business training by Moonstone Business School of Excellence (MBSE) is now Open What and When? The Act stipulates that a FSP and representative must complete the class of business […]
The Nine Classes of Business
We received a substantial number of enquiries about this topic in response to articles published last week. It is not only important to those who are required to do Class of Business (CoB) […]
Proposals on loyalty benefits or bonuses
Cashback incentives are very often the topic of enquiries from readers who feel that they are at a disadvantage to mostly direct marketing companies who offer partial premium refunds to secure business. The […]
Financial Sector Regulation from Budget Speech
The scramble to be first with news of the budget reminds me of the old bull and his aspiring successor who stood on a hill observing the herd of cows grazing below. Youngster: […]
